not practical to tell people to buy another home. beeser. bzh. home builder. >> that will do it for this week's edition of "power lunch." sue? >> have a great weekend, guys. "street signs" begins right now. we'll see you monday. ♪ believe it or not, we're walking on air because stocks are rising for a fourbth day. who's the real american hero? is it ben bernanke? is it the iphone 5? one may mean more to the economy in the long run. plus the scary stats from fidelity and how much money you really need to retire. and the results of our survey. who has the biggest ego of the week, mandy? no comments. >> what about an australian hero? got to find one of those. early session euphoria has faded somewhat with the dow well off

its session high gain of 113 points. nonetheless, it's still on track for its seventh gain in eight sessions and its highest level since december of 2007. could finish the highest since december the 31st of 2007. the nasdaq also on pace for another multi-year high, aiming for its highest finish since november the 9th of the year 2000. let's get to bob. let's get to rick. bob, first of all, we're in this sort of mode where people just think that stocks can go nowhere but higher. where do we go from here? >> it's interesting. i thought there would be more people raising their estimates. we really haven't seen that, mandy. tom lee, i mentioned several times today, at jp morgan raised his numbers today, only going into the election. most guys out there are fairly cautious on what's going on right now. i think some people are arguing the multiple should expand. maybe not earnings go up but the

multiples. that's the argument right now. if you do that, you can get to 1,500, 1,550 on the s&p very easily. everybody thinks now the bernanke put is therefor ever and that stocks are not going to go down. obviously when you get some kind of event that's happening, you're going to have the euro blowing up again. that's got me a little worried right now. they're going to continue this morning. on the back of consumer sentiment falling down high. >> it's definitely a surprise across the board, and it was more due to kind of the forward look. we'll have to wait and see. give the respondents great credit. they must obviously walk everywhere, not drive. i look at the 186. that's up 20 basis points on the week. we're up 26 basis points a week on a 30-year.

a good chunk of that has been offset by the surprising so often that continues in treasuries, booms, and many. what seem to be safe harbor sovereign fixed income. >> rick, thank you. >> your top two stories this week. fed easing part 3 and iphone unveiling part 5. both are seen helping the economy at least in the near term. when all is said and done, what will be proven the real super hero of the u.s. economy, ben bernanke or the inanimate object on the right. joining me now is dan greenhouse, chief global strategist and cnbc contributor. also a new dad. former wall street fund manager and author of the book "all around smart guy." it was kind of tongue in cheek about jp morgan helping the economy, gdp, iphone, et cetera. do you really believe that device can power the u.s. economy. >> it's all in the margin. i actually think qe3 has been

negative for the economy. just before it was announced, oil ran up to $100. gas out in california to $4 a gallon. the iphone 5 is two two or three tankfuls a gas. it's not just the sale of the iphone which the economists at jp morgan said could be a third of a point. the fabric around it. apps and software. multitrillion dollar ecosystem based around that one device. it's human for the wealth creating productivity of the economy. >> andy and dan, sit tight for just one second. we have new details emerging about what cuts from the federal government will be sliced if the fiscal cliff is hitting. eamon jabbers, i know it's a huge report. what are we seeing so far? >> we're just looking through it right now. there was originally an embargo on this report until 2:30. the white house has just released the embargo. we're tree to report the details. we just got this report, it's a

couple hundred pages long. the white house senior administration officials on a conference call that's going on right now saying they don't want to see any cuts paut put in place. they say the administration strongly believes that sequestration is a strong policy and the u.s. should take action to avoid it. sequestration is a blunt and discrete instrument, and it would be deeply destructive to national security and core government forces if it were to take place. this would result in a 9.4% introduction in nonexempt defense discretionary funding and a 2% cut to medicare and 7.6% to nonexempt, nonmandatory programs. they detail line by line what they will cut in this report, which is hundreds of pages. the white house hoping the painful details laid out in this report will bring the republicans back to the negotiating table, as they say and come up with some kind of

way to raise revenue, so they don't have to implement these kind of draconian cuts. >> david, we're just going through it. as noted in a 400-page report. usually, we like to have graphics. >> the movement is on the fly here. >> up 44%. >> exactly. the sequestration, according to the report, 6.6% nondefense, nonmandatory discussion. mandatory programs. the breakdown before that. it's in the report later on. they just lifted this embargo. we're going through it realtime with you, brian. >> the back of that, thank you very much. eamon jabbers. we've still got dan greenhouse

and andy kesler. i'm assuming you're able to listen to what eamon is saying. to what extent she would be taking into account some of the automatic cuts if we go over the fiscal cliff into our investment strategy. dan? >> well, currently, most of the sequestration and really the fiscal cliff in general isn't in the forecast. it's pretty hard to imagine that congress is that dumb to allow this to happen. when i go meet with clients, there really is a one-sided trade so to speak in this that just about everybody i meet with thinks the fiscal cliff is sort of ignored or extended, let's say, three or six months down the road. i keep reminding people that, if president obama wins re-election, irrespective of what you think about his policies, he's campaigning on a claim to raise taxes on the upper income brackets. if he wins re-election. he's going to have the case to make to house republicans that taxes should go up. to the extent we believe house republicans are not going to agree with him, i think the probability of the fiscal cliff is higher. >> guys, we're going to get more

on these cuts as we sort of get them in. lockheed martin and northrop grumman are down a few points but not significantly. you talked about oil prices. interesting because i tweeted out yesterday that oil nearing $100 a barrel, very regressive. gas prices continue to climb. is that another reason why you think the fed is ultimately going to be bad for the u.s. economy, inflation whacking everybody? >> it's a tax on consumers. you have the federal government running trillion plus deficits. any dollar not spent by the public sector can be invested in the private sector, can be invested in this productivity fabric, invested in this mobile infrastructure that is going to drive productivity and create wealth. and so the more that we can do to drive this productivity, the

better. higher gas prices is a negative in all this. >> i've got to interrupt because that's not true. i agree with andy with respect to gas prices, and qe's effect on gas prices, clearly the lower income brackets hurt more by the price of food and gasoline, no doubt about it. but with respect to this argument that somehow the public sector is crowding out the private sector, in normal timds that's unquestionably true in my mind. let's be clear. the problem today is there's not enough safe assets to meet private demand. so this idea that somehow the treasury is issuing all this debt and forcing people to invest in it, thus depriving the private sector of usable capital is not boerprn out by the detai. the treasury department right now is meeting that. >> back to the original discussion of which is going to boost the economy more, whether it's sales of the iphone 5 or qe3 being unleashed by the central bank, i understand you say basically neither.

>> first of all, apple and the iphone is better. i don't think anyone in the central bank would rather have an easing than a product put to market. >> let's be clear, when you do the math, we follow apple at btig. we think they're going to sell a couple, 40 million, whatever it is of iphones at $600 apiece. you're talking about 25 maybe, $30 billion. consumer spending is like $10 trillion. you're talking about tenths of gdp in either direction. >> but to andy's point, it's about productivity. if you've got a call that can help you be a more productive worker, there's a lot of halo effect going on there. >> i'd rather have an iphone than a bank printing money. we have structural problems in the economy right now as well as

cyclical declines in demand. neither one of these address those issues. >> andy, listen, i've been reading you since your first book. obviously, fantastic author, and a lot of people don't know your history as a hedge fund manager. very, very successful. you got out at the right time. you saw the bubble in the nasdaq coming. we are at a nearly 12-year high in the nasdaq. apple aside. let's throw apple out. are we in the middle of a new tech bubble? >> if you look at all the servers and memories and disk drives and bay stations, just to handle the lte feature of this iphone 5, there is multihundreds of billions of dollars that needs to be spent. if you can go build a portfolio of all these interesting companies, they're mostly small cap, not the big guys out here in the valley and elsewhere, i think we're at the early stages. but because of qe3 and qe2,

equity values have risen, multiples have risen. is so the risk has gone up. you'd better pick the right names. you'd better pick the ones that have earnings momentum and not the ones that you hope are going to do well. the ones that are specifically focused both in those products, the apple products, but also in that infrastructure. i still think it's early. >> you made your fortune picking the right stocks and the right sectors. what sector do you see as being undervalued? what sector do you see as being overvalued? >> i don't know. look, a lot of these consumer internet names were overvalued, and then the market woke up and kind of squished them all. the groupions and zyngas and the like. again, those weren't productist infrastructure. if you go look at silicon companies and go look at network equipment companies and go look at the guys doing things in the cloud, both infrastructure and software and services, there's just so many neat companies out here. it's a whole other wave. i still think it's early.

it's starting to get out of hand, and it will get way out of hand. i don't think it is yet. >> don't forget yellp and linke in. to the extent we can include them in that category, linked in and yelp are doing just fine. >> thanks for rolling with the breaking news. we appreciate it. you both have great weekends. >> thank you. >> every good story needs a sound track. so what songs would you put on america's recovery play list? we've got some ideas, and like p. diddy and the notorious b.i.g.s, it's all about the benjamins. we want to hear your ideas. >> in the meantime, we go to market flash now with brian shactman. brian, what are you watching? >> the materials sector is the best performing sector in the s&p large caps. but ak steel is at the bottom. just about every other steel stock is up. this one on huge volume down 7%. they came out and said third

quarter losses will be wider than expected. some of that based on pricing and the stock getting hit pretty hard. back to you. >> thanks very much, brian. on deck, are you worried about your retirement? grab some emfs. a new time line could make you feel even worse. we just love to deliver the good news here on "street signs." and later on, very slow moving but sky high. we're talking blimps. believe it or not, they can't make them fast enough right now. what is fueling the great american blimp boom? with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments.

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stocks are adding to yesterday's qe3 rally that carried the major indices to multi-year highs. the dow up 11%. s&p up 16. and the nasdaq is up about 22%, far outperforming the others. so 401(k) accounts certainly getting a boost. not quite so scary to take a look at them. are you on pace to make sure you have enough money in your retirement nest egg? you can go vote in our streetsigns.cnbc.com. and you can twee tweet @streetsignscnbc. are you ahead of the game? are you right on target, or are you way behind? we're going to bring simple guidelines for what you should have in your savings based on your age. could be a little aggressive. we'll debate that later on in

the show and review the poll results as well. >> it's been a broad based rallies. take a look at the dow s&p 500 and nasdaq over five years. here's the problem. if you missed out on this multi-year run, what do you do now? where are the opportunities now? scott minors, chief investment officer at gugenheim partners, great to see you now. i don't want to talk about the faustian bargain to begin with. i want to ask you this. you talk about art and hard assets. what's a better buy right now? is it the dow, or is it a salvador dali? dow or dali? >> hands down it's a dali. >> why? >> first off, i work for gugenhe gugenheim. >> you're in the museum business on the side. >> exactly. when you see what we're doing with qe3 and the unorthodox

world of monetary policy, ultimately, brian, with the exception of maybe treasury securities at this point, all this liquidity is good for virtually every asset class. they're viewed as places to go to store value. equities are a fairly good place to go as liquidity goes up, but there are only so many dalis in the world, and for wealthy people, these things are great places to store value, and the demand for them is just going to continue rising while there's going to be no increase in supply. >> we've got the fed essentially printing more money when we've already got stocks at multi-year highs. it's like delivering another boost, but how much longer can

we run before it ends very messily? >> i think we get away with it for at least a few more years. we're not seeing any signs of inflation. we got the capacity utilization number today. it declined by almost a point. typically, you don't start to see inflation until you get capacity utilization at around 85%. as long as there's so much slack in the economy, the fed can continue to do this. >> so don't fight it. where would you put your money, apart from a nice dali? >> certainly, we're allocating a lot now toward gold. we've allocateded a lot for silver, and we've been long european stocks over the last two months. those have been obviously been beaten down, and with the policies of dr. drag hi, who is basically taking a page out of dr. bernanke's playbook, things are in the early stages of a long run for financial asset ins europe. >> i must have had too many glasses of cheap wine on the flight back from san francisco,

scott. i thought i heard you say you're long european stocks. >> we have been for the last two months, brian, particularly italy, spain, and some germany. and it's turned out to be a fairly good trade. given what's going on, i think we have pretty good upside for those markets. >> italy, german, spanish -- whatever the best stock markets are that you just noted -- are those stock indexes? are they essentially the dow three and four years ago given their cycle? >> i absolutely think so. when you look at the multiples for these markets, brian, we're at the same multiples we were in the united states in march of '09. obviously, in march of '09 in the united states, earnings were very depressed in europe because of the depressed. europe has the advantage of not only being able to grow multiples, but also to be able

to grow earnings. i think for the united states, while we've got room for multiple expansion in the united states where we're at today, earnings are getting kind of topee. europe makes a better bet. >> the last time you came on several months ago when you were bearish the euro, have you also changed targets to several months ago? >> actually, i haven't, mandy. the euro is going to continue to appreciate. we've obviously gotten a really nice bounce here, up to around 131. we probably have a little more upside on a technical basis. but the whole key to the european recovery is around dr. draghi continuing to print money, and printing money is going to ultimately put downward pressure on the euro, and they need that to get the economy of the periphery to expand. >> if you're buying european stocks, what are you selling?

>> brian, i think you know a couple of months ago, two or three months ago, i turned very bearish on treasury. we started selling ten year notes at 1.65. we were probably too early. but i am exceptionally negative about treasury securities, and i think that's probably the best short out there. >> if you don't mind me following up on the euro call, you're basically saying, because draghi is printing money, the euro is going to depreciate. but ben bernanke is also printing money. it's a case of who can print faster. which is the lesser evil, don't you think, at the end of the day? the u.s. dollar is going to be depressed on the back of this, and the euro could move higher. >> you know, i think, mandy, any time we see an increase in the value of the euro, it's going to make europe more -- less competitive, and they obviously have a competition problem now as they've seen downward pressure on exports. i think the fundamentals will win out at the end.

and you know what, i think we need to have faith in dr. draghi. as a percent of gdp for europe, the ecb's balance sheet is much larger than the percentage gdp of the balance sheet of the fed. >> okay. scott, always good to hear from you. thank you for joining us on the show. coming up -- is your retirement on track? just go grab your 401(k) for a moment because we have the new timeline for your nest egg. not the old one, but the new one. you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person.

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all right. on a solemn note, that is a look at a hangar at andrews air force base, where we are awaiting the president and secretary of state hillary clinton to speak.

it's the caskets of libyan ambassador christopher stevens and the three others killed in the attacks in libya earlier this week are coming into the hangar. again, we will take the president's remarks. we'll take secretary of state clinton's remarks. this does mark the return of the murdered diplomat and the three others to andrews air force base and the place of their birth in the united states. we're going to leave you with this. a tragic incident in libya.

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>> let us pause for a moment of silence. let us pray. gracious god, on behalf of a grateful nation and in the presence of greeieving family members, friends, and colleagues, we welcome home for the final time ambassador chris stevens, mr. sean smith, mr. glen doherty, and mr. tyrone woods. we give you thanks for the lives and the selfless service of these men who wanted nothing more than to make a difference in the lives of other people. to bring justice and freedom to others who possessed in their hearts not only character and resolve, but courage and good

will. we mourn their loss. bless the memories of these men through those who knew and loved them, especially their families for whom we ask your comfort, your divine care, and your peace in this difficult time. on this occasion, we continue to pray for our nation and its leaders. we ask your blessing on all who serve, military and civilian. we pray for our nation's people. we pray for the defeat of the terror and evil that seems to plague our planet. we pray earnestly for peace. and now, creator of all, let light perpetual shine upon chris, sean, glen, and tyrone. may their souls and the souls of all the departs through your eternal mercies rest in peace.

amen. you may be seated. ladies and gentlemen, it is my honor to present to you the secretary of state, the honorable hillary rodham clinton. >> thank you very much, chaplain, mr. president, mr. vice president, secretary panetta, ambassador rice, secretary powell and mrs. powell, family members of the four patriots and heroes we bring home, members of the state department family, ladies and gentlemen, today we bring home four americans who gave their lives for our country and our

values. to the families of our fallen colleagues, i offer our most heartfelt condolences and deepest gratitude. sean smith joined the state department after six years in the air force. he was respected as an expert on technology by colleagues in pretoria, baghdad, montreal, and the hague. he enrolled in correspondence courses at penn state and had high hopes for the future. sean leaves behind a loving wife, heather, two young children, samantha and nathan, and scores of grieving family,

friends, and colleagues. and that's just in this world because online in the virtual worlds that sean helped create, he is also being mourned by countless competitors, collaborators, and gamers who shared hids passion. tyrone woods, known to most as rone, spent two decades as a navy s.e.a.l., serving multiple tours in iraq and afghanistan. since 2010 he protected american diplomatic personnel in dangerous posts from central america to the middle east. he had the hands of a healer as well as the arms of a warrior.

earning distinction as a registered nurse and certified paramedic. our hearts go out to tyrone's wife, dorothy, and his three sons, tyrone jr., hunter, and kai, born just a few months ago, along with his grieving family, friends, and colleagues. glen doherty, who went by bub, was also a former s.e.a.l. and an experienced paramedic. he too died as he lived, serving his country and protecting his colleagues. glen deployed to some of the most dangerous places on earth, including iraq and afghanistan, always putting his life on the line to safeguard other

americans. our thoughts and prayers are with glen's father bernard, his mother barbara, his brother gregory, his sister kathleen, and their grieving families, friends, and colleagues. i was honored to know ambassador chris stevens. i want to thank his parents and siblings who are here today for sharing chris with us and our country. what a wonderful gift you gave us. over his distinguished career in the foreign service, chris won friends for the united states in far flung places. he made those people's hopes his own. during the revolution in libya, he risked his life to help protect the libyan people from a tyrant.

and he gave his life helping them build a better country. people loved to work with chris, and as he rose through the ranks, they loved to work for chris. he was known not only for his courage but for his smile, goofy but contagious, for his sense of fun and that california cool. in the days since the attack, so many libyans, including the ambassador from libya to the united states, who is with us today, have expressed their sorrow and solidarity. one young woman, her head covered and her eyes haunted with sadness, held up a handwritten sign that said, "thugs and killers don't represent benghazi nor islam." the president of the palestinian

authority who worked closely with chris when he served in jerusalem sent me a letter remembering his energy and integrity and deploring -- and i quote -- an act of ugly terror. many others from across the middle east and north africa have offered similar sentiments. this has been a difficult week for the state department and for our country. we've seen the heavy assault on our post in benghazi that took the lives of those brave men. we've seen rage and violence directed at american embassies over an awful internet video that we had nothing to do with. it is hard for the american people to make sense of that because it is senseless. and it is totally unacceptable.

the people of egypt, libya, yemen, and tunisia did not trade the tyranny of a dictator for the tyranny of a mob. reasonable people and responsible leaders in these countries need to do everything they can to restore security and hold accountable those behind these violent acts. and we will, under the president's leadership, keep taking steps to protect our personnel around the world. there will be more difficult days ahead, but it is important that we don't lose sight of the fundamental fact that america must keep leading the world.

we owe it to those four men to continue the long, hard work of diplomacy. i am enormously proud of the men and women of the state department. i'm proud of all those across our government, civilian and military alike, who represent america abroad. they help make the united states the greatest force for peace, progress, and human dignity the world has ever known. if the last few days teach us anything, let it be this. that this work and the men and women who risk their lives to do it, are at the heart of what makes america great and good. so we will wipe away our tears, stiffen our spines, and face the

future undaunted. and we will do it together. protecting and helping one another just like sean, tyrone, glen, and chris always did. may god bless them and grant their families peace and solace. and may god continue to bless the united states of america. and now let me have the great honor of introducing someone who came to the state department earlier this week to grieve with us. he well understands and values the work that these men were doing for our country, the president of the united states.

scripture teaches us, greater love hath no man than this, that a man lay down his life for his friends. glen doherty never shid from adventure. he believed that in his life he could make a difference, the calling he fulfilled as a navy s.e.a.l. he served with distinction in iraq and worked in afghanistan. and therefore in benghazi, as he tended to others, he laid down his life, loyal as always, protecting his friends. today glen is home.

tyrone woods devoted 20 years of his life to the s.e.a.l.s, the consummate, quiet professional. at the salty front bar, they might not have known, but rone also served in iraq and afghanistan, and there in benghazi, he was far from dorothy and tyrone jr., hunter and little kai, and he laid down his life as he would have for them, protecting his friends. and today rone is home. sean smith, it seems, lived to serve. first in the air force, then with you at the state department. he knew the perils of this calling from his time in baghdad. and there in benghazi, far from home, he surely thought of

heather and samantha and nathan, and he laid down his life in service to us all. today sean is home. chris stevens was everything america could want in an ambassador, as the whole country has come to see. how he first went to the region as a young man in the peace corps, how during the revolution he arrived in libya on that cargo ship, how he believed in libya and its people and how they loved him back. and there in benghazi, he laid down his life for his friends. libyan and american. and for us all. today chris is home. four americans, four patriots,

they loved this country, and they chose to serve it and served it well. they had a mission, and they believed in it. they knew the danger, and they accepted it. they didn't simply embrace the american ideal, they lived it, they embodied it. the courage, the hope, and, yes, the idealism. that fundamental american belief that we can leave this world a little better than before. that's who they were, and that's who we are. if we want to truly honor their memory, it's who we must always be. i know that this awful loss, the

terrible images of recent days, the pictures we're seeing again today, have caused some to question this work, and there is no doubt these are difficult days. days. in moments such as this, so much anger and violence, even the most hopeful among us must wonder. but amid all the images of this week, i also think of the libyans who took to the streets with homemade signs expressing their gratitude to an american who believed in what we could achieve together. i think of the man in benghazi with his sign in english, a message he wanted all of us to hear. it said, chris stevens was a friend to all libyans. chris stevens was a friend. that's the message these four patriots sent. that's the message that each of you sends every day.

civilians, military, to people in every corner of the world. that america is a friend and that we care not just about our own country, not just about our own interests, but about theirs. that even as voices of suspicion and mistrust seek to divide countries and cultures from one another, the united states of america will never retreat from the world. we will never stop working for the dignity and freedom that every person deserves. whatever their creed, whatever their faith. that's the essence of american leadership. that's the spirit that sets us apart from other nations. this was their work in benghazi, and this is the work we will carry on. to you, their families and colleagues, to all americans,

know this. their sacrifice will never be forgotten. we will fwroing justice those who took them us. we will stand fast against the violence on our diplomatic missions. we will continue to do everything in our power to protect americans serving overseas, whether that means increasing security at our diplomatic hosts, working with host countries who have an obligation to provide security, and making it clear that justice will come to those who harm americans. most of all, even in our grief, we will be resolute, for we are americans, and we hold our head high knowing that because of these patriots, because of you,

this country that we love will always shine as a light on to the world. greater love hath no man than this. that a man lay down his life for his friends. the flag they served under now carries them home. may god bless the memory of these men who laid down their lives for us all. may god watch over your families and all who loved them. and may god bless these united states of america. >> the president and secretary of state hillary clinton wrapping up a moving tribute to those slain in the attack at the u.s. embassy in benghazi, libya. now you have army chaplain wesley smith delivering the benediction at the end of the ceremony. those killed were u.s. ambassador chris stevens, sean

smith, glen doherty, and tyrone woods. >> very powerful words from secretary clinton, who was basically saying the libyans did not trade the tyranny of a dictator for the tyranny of a mob. indeed, you're watching live pictures at andrews air force base. let's get to john howard now in washington to get his take on all of this. john, it was a very solemn and very moving moment. >> exactly right. both president obama and secretary of state hillary clinton offered tributes to each of the men, told a little about them, their service especially. the two former navy s.e.a.l.s in iraq and afghanistan. and cast their loss of life in the tradition of american service around the world. trying to leave the world a little bit better place. that's what they were. that's who we are as americans. he said america will never forfeit its role in world affairs and not stop trying to lead. >> and john, we know that chris

stevens was the first ambassador killed overseas since 1979 when the u.s. ambassador to afghanistan was killed in an attack there as well as the eighth ambassador to be killed since 1950. what have we heard? what have we learned about stepping up security at u.s. embassies in hot spots around the world? >> we've seen, for example, in yemen where some of the protests have spread, the administration has sent marines to try to beef up security. they've also sent more into libya for that same purpose. and the request that the white house made of youtube today to review whether the anti-muslim video that the white house believes sparked these protests, to see if it violents their terms of use as part of an effort to keep the violence from spreading. let everyone know that the white house is doing what it can. youtube has said that the video does fall within their guidelines. they're not taking it down, but they are restricting access, brian, in egypt and libya, the

two countries where these protests first broke out. >> john, thank you very much. the benediction wrapping up. we're going to take a short break. we're back with more on cnbc.

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let's look at how the markets are doing today. they're moving higher after a fed-induced surge yesterday. the dow was up as much as 113

points at one point. now only up by 48. nonetheless, the nasdaq is the standout performer today. the nasdaq is on pace for another multiyear high. in fact, aiming for its highest finish its november the 9th of 2001. gold pushed to six-month highs. the gold miners are also doing very well today. in fact, the market vectors gold miners index is up by about 2.42%, as we can see there. the russell 2000, they're aiming for a record close. we'll see if they can do that. those are some of the things we've been watching on the second reaction day to the fed's qe-3. >> and we'd beremiss without leaving you at a look at next week. we could see light trading earlier in the week. we also have economic data coming out. on wednesday, housing starts. a number of fed speakers will be speaking at the end of next week, as mandy said. really, all about the fed t